Touchstone Exploration Share Discussion Threads

[flyinghorse1] 28/8/2021 21:38

The issue with Txp is till they get an actual depletion profile from real production you will not be able to verfy the “ wall of cash”
Aimho
FH

[thebull8] 28/8/2021 14:33

Still a better business than Challenger...

[che7win] 28/8/2021 07:08

That's a long tail -#Touchstone's Fyzabad office is within the heart of the mature oilfields of #Trinidad. Pictured is a well located in the compound which was spud in October 1947. Incredibly 70 years later, the well is still producing 1bopd

[davidblack] 27/8/2021 17:38

2009-2019 Trinidad commitment wells those drilled and those not drilled.

[1domus] 27/8/2021 16:05

This can be rather exciting. Worth attending :

hxxps://aapg.zoom.us/webinar/register/WN_6vUolP4yTLe8vUZetwRxdw

[davidblack] 27/8/2021 11:46

Yep that should be happening now.

[ngms27] 27/8/2021 10:50

Doubt it. Don't forget the casing point.

[davidblack] 27/8/2021 10:04

If that’s the case this drill subject to less breakdowns is going to be a lot cheaper than the old one which always turned up in the accounts circa 50% more expensive than the headline advertised costs but maybe that was just down to “Issues.”;

Talking of drilling they should be passed 4,500 feet now? Give or take, so 40% done overall.

[adon30] 27/8/2021 09:14

From the MD&A:

“Under the terms of its Heritage operating agreements, Touchstone must fulfill minimum work obligations on an annual basis over the specific licence term. With respect to these obligations, as at June 30, 2021, the Company had four development wells and two heavy workover commitments to perform prior to the end of 2021.

In March 2021, the Company entered into a minimum three-year drilling services contract with a third party to supply a North American based drilling rig to Trinidad in late 2021. Pursuant to the contract, the Company is required to utilize the rig for a minimum of 120 days per annum over the initial three-year term and is obligated to pay for rig mobilization and demobilization costs. For the related contractual obligations disclosed herein, the Company has estimated that the drilling rig will be operational effective October 1, 2021.

Drilling commitment 2021
4,750”

So looks like all the work overs have a budget of $4.75m for 4 wells and 2 work overs.

[davidblack] 27/8/2021 00:01

Calling them legacy wells suggests equivalence with the exist wells.

That might not be accurate. The size and depth of the “New” is more like the Championship rather than the old division four.

I understand they are hoping for some pleasant surprises.

[pro_s2009] 26/8/2021 23:18

Paul said 1m$ per well with the new rig

[homebrewruss] 26/8/2021 22:25

Presumably they are getting a good rate for the new rig by committing to 120 days per year. I was slightly surprised to see a new pad under construction for the upcoming legacy well but I guess some wells will require more work than others depending on what facilities are present at the site of the work over.

[davidblack] 26/8/2021 22:12

So add 50% by my reckoning

[davidblack] 26/8/2021 22:12

So add 50% by my reckoning

[awise355] 26/8/2021 21:09

3 years ago that was the price

[davidblack] 26/8/2021 21:01

A question if anyone can remember.

How much are the legacy wells likely to cost? I seem to remember $1m but that feels too low.

[buffythebuffoon] 26/8/2021 14:34

Sorry for the off topic post, although there’s nothing to discuss at the moment, but I forgot to add, the little boy voting all my posts down needs to get a life. What a sad person he must be. Mind you, he no doubt has callouses on his hand, so I should feel sorry for him.

Buffy

[che7win] 26/8/2021 12:40

Hotstockrockets email on TXP"...brokerage finnCap last month forecast more than $40 million pre-tax profit next year, noting the development potential of the assets and a risked-NAV based target price of 151p, which would be a £318 million market cap. We previously noted 125p as our target, though both are still well ahead of a current 80p and the shares are still a buy."

[buffythebuffoon] 26/8/2021 12:32

Besides the operational delays due to Covid, drill transport and bad weather, we are doing ok then?

Buffy

[adon30] 26/8/2021 08:48

State of emergency to continue in Trinidad for a further 3 months



However looks like Txp operations can continue around this with some restrictions. May affect length of time to complete coho pipeline but it’s also the wet season which will have a bigger effect on operations.